ECONOMY: Most Affordable Latin American Cities for Real Estate

Stronger currencies, city infrastructural development and general quality of life makes Latin American real estate a serious consideration for many mutli-national investors and adventurous travelers alike. Photo (c) Revista Vivienda 2016Stronger currencies, city infrastructural development and general quality of life makes Latin American real estate a serious consideration for many mutli-national investors and adventurous travelers alike. Photo (c) Revista Vivienda 2016

(Guest article by Alex Omelchenko) – When one thinks Latin American, it’s almost necessary to think passion in a deep rooted culture that is synonymous to celebration and innate to the people residing in Latin American cities.

It is the type of heritage that is varied when traveling between any of the Latin American Spanish lingual cities, but which is broadly authentic regardless of how unpolished or  developed the city is.

Local Economics and Development

Despite perceptual economic and political crisis, Buenos Aires remains a foreign real estate investment hub. Photo (c) Clarin 2016

Stronger currencies, urban infrastructural development and general quality of life makes Latin American real estate a serious consideration for many mutli-national investors and adventurous travelers alike.

No longer just a visit to a Latin American city of choice, but rather property ownership, isn’t just being considering by the more adventurous retiree.

While still perceived as dangerous, or in its infancy at economic standards, Latin American countries are quickly showcasing reformation that’s influencing estate indicators favorably.

Cities on the Radar

Granada, Nicaragua balances local identity with international appeal. Photo (c) Trip Scout 2016

Prior surveys conducted indicated Colombia’s Cali top ranking on the most affordable Latin Property Real Estate list. Whereas limitations were based on safety, development and infrastructure, that’s certainly not the case when it comes to alternate retirement options.

Nicaragua’s Granada ranks next, followed by Medellin, Colombia; Arequipa, Peru; Cuenca, Ecuador; Asuncion, Paraguay; and Puerto Vallarta, Mexico.

Much can be said of Nicaragua’s Granada which oozes Spanish Colonial influences, bustling European mimicked city life and which is echoed in its historic architectural structures. Enjoyed by impressive expat numbers and communities residing in Granada, the city reaffirms the possibilities for how cities can maintain local identity and serve international clientele.

Security’s Role

Medellin is no longer the one portrayed in Narcos. Photo (c) El Pais 2012

Fallen crime numbers and lucrative property bargins as is the case in Medellin, Colombia; Cuenca, Ecuador or Panama City, Panama, could see sporadic real estate growth.

Café lifestyle, family conducive spaces like city parks, active nightlife, easier transport modes are all lending to the attractiveness of these cities.

That’s aside from the clearly attractiveness to the relaxed yet passionate rapport of the Latin American people.

Battle Against Stereotypes

60% of Punta del Este’s real este is owned by foreign nationals, predominantly Argentines, Brazilians and a handful of Americans and Europeans. Photo (c) Uruguay Natural 2011

Taboo is that all Latin American Cities are cheap to live in or undervalued in property prices.

Take Punta del Este -Uruguay . This costal considered the St. Tropez of Latin American cities. An active high tourist footfall region, this is also reflected in its expensive per square meter rates.

A price never to high for beach loving, tan hungry, bronze skin abundant folk can be found.

Other cities found between the cheapest most expensive Latin American cities being Punta del Este, Puerto Vallarta (Mexico), Bogota (Colombia), and Santa Marta (Colombia). You start to see numbers in per meter increase from San Jose (Costa Rica), Panama City and Buenos Aires, as well.

Therefore, while the closest some get to Latin America is via their taxi driver or a big screen actress, there’s no limits to having a safe and sound life in any of the above mentioned cities while immerse into the culture of its lively people. Of course with  the right diligence and expectation to spend being top of mind.

About the Author:

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